Britain now on EU debt list.

[Anna B]

Britain has now been put on an EU debt list, along with Spain, Portugal and Ireland, for not repaying its debts. It says Britain has not made enough progress in cutting its deficit, and now needs overseeing from Brussels, in order to help correct 'imbalances.'

 

David Cameron is said to be incandescent with rage.

 

He should think himself lucky that it came out after the election. So much for our 'brilliant economic recovery....'

[mafya]

I wonder what he Tory supporters on SF have to say about this?

[mossdog]

I wonder what he Tory supporters on SF have to say about this?

It must be obvious............we need more austerity!

[charmer]

Do you have a link to this? I can't find it after a quick google search.

[Longcol]

Britain has now been put on an EU debt list, along with Spain, Portugal and Ireland, for not repaying its debts. It says Britain has not made enough progress in cutting its deficit, and now needs overseeing from Brussels, in order to help correct 'imbalances.'

 

David Cameron is said to be incandescent with rage.

 

He should think himself lucky that it came out after the election. So much for our 'brilliant economic recovery....'

 

A link to the source would help - I reckon you aren't telling the full story

[retep]

The European Commission has provoked anger for the ‘staggering’ accusation that Britain has failed to make enough progress in cutting its deficit.

The EU body claimed yesterday that despite having one of the fastest growing economies in the G7 and a programme of spending cuts, Britain’s finances still need oversight from Brussels.

It means the UK is on a list of countries which have economic ‘imbalances’ and have been told to improve - along with struggling Spain, Portugal and Ireland.

 

 

Read more: http://www.dailymail.co.uk/news/article-3080572/Anger-EU-says-BRITAIN-not-cut-budget-deficit-places-UK-economic-watch-list-despite-having-one-G7-s-fastest-growing-economies.html#ixzz3a8aQistk

Follow us: @MailOnline on Twitter | DailyMail on Facebook

[Longcol]

 

 

Read more: http://www.dailymail.co.uk/news/article-3080572/Anger-EU-says-BRITAIN-not-cut-budget-deficit-places-UK-economic-watch-list-despite-having-one-G7-s-fastest-growing-economies.html#ixzz3a8aQistk

Follow us: @MailOnline on Twitter | DailyMail on Facebook

 

From that link;

 

"The UK was subject to the Excessive Deficit Procedure in December 2009, when running a deficit of 10.9pc of GDP. Ministers were told to bring it back under the threshold by 2014-15.

 

But by the end of the last financial year it was still 5.2pc. It is expected to drop below 3pc in two years’ time, and Brussels has set another deadline for April 2017.

 

The Commission said Britain has ‘not taken effective action’ to meet its target and still has ‘imbalances which require policy action and monitoring’ – along with Belgium, the Netherlands, Romania, Finland and Sweden.

 

Germany, which has a higher deficit, got a more serious warning. And France, Italy and Portugal were described as having ‘excessive imbalances’ and will get heavier monitoring of their economic plans."

 

 

Hardly anything like a disaster then........................

[L00b]

Just a minor & harmless shot across the bow from Brussels, who are now in a bit of a pickle, what with Cameron owning the balance of power in their forthcoming negotiations, with his unexpected electoral majority

 

Expect many more in weeks and months to come, and all just as irrelevant.

 

I for one am looking forward to see how Cameron is going to exact his revenge on Juncker in months to come

[I1L2T3]

We're like Greece now!!

 

Thought we were supposed to avoid that.

[Longcol]

We're like Greece now!!

 

Thought we were supposed to avoid that.

 

Actually we're doing better than Germany, France and Italy - and nothing like Greece.